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Home > Press > Raymor Prepares for Production of SWNT and US Listing

Abstract:
Raymor Announces Year-End Results: 2005 Prepares Raymor for Numerous Accreditations, Production of Single-Walled Carbon Nanotubes, and Application for US Listing

Raymor Prepares for Production of SWNT and US Listing

Montreal, Quebec | Posted on May 02, 2006

Raymor Industries Inc. (TSX VENTURE:RAR - News), a leading developer and producer of single-walled carbon nanotubes, nanomaterials and advanced materials, today released its annual audited financial statements, along the company's Management Discussion and Analysis (MD&A) for the fiscal year 2005. The company, a member of the NANOTECH 100, posted revenues of $1,048,044 based solely on sales from metallic powders and thermal spray coating operations. For specifically these two divisions, with the completion of many qualifications by the end of June 2006, powder and coating sales are projected to be four to six times greater over the following 12 months. Coupled with single-walled carbon nanotubes (C-SWNT) supply contracts, to be signed shortly with major aerospace, defense and high tech companies, Raymor is poised to capture considerable revenue in 2006.

Highlights from the 2005 Annual Audited Financial Statements and MD&A include the following:

  • To demonstrate the highest levels of profitability in 2006, and to prepare Raymor's financial statements for an application to be listed on a major US stock exchange, Raymor has decided to write off most major assets capitalized in 2005, as well as all other Raymor projects in place before 2005. As a result, when combined with operating losses, Raymor reported a net loss of $5,561,592, or $0.095/share.
  • In January 2006, Raymor created another wholly-owned subsidiary named "Raymor Nanotech Inc." to sustain its operations related to the production of C-SWNT.
  • Raymor acquired and began operating its patented C-SWNT production process in May 2005. C-SWNT will be a technology platform for a multitude of applications in many sectors, including aerospace, defense, energy, and others. Raymor's first 10,000 grams/day continuous high capacity C-SWNT production unit became operational in March 2006. This production unit will reach its full capacity by the end of June 2006, after which Raymor will install new units to meet market demand, thus becoming the largest producer of single-walled carbon nanotubes in the world. The Freedonia Group, in a report released in January 2006, predicts the global carbon nanotubes market to be a US$10 billion industry by 2020.
  • With the new high capacity C-SWNT production unit currently ramping up to 10,000 grams/day, many companies in the aerospace, defense and high tech sectors are currently evaluating both Raymor's C-SWNT product and Raymor's capacity to consistently produce high quality C-SWNT. In 2005, Raymor announce a new client for C-SWNT, EADS Composites Atlantic.
  • Raymor is presently negotiating contracts with clients in the aerospace and defense sectors for the sale of C-SWNT. In the near future, the company is confident that revenues from these contracts will easily surpass the $10 million projected annual revenue of C- SWNT announced in the press release of May 5, 2005.
  • Raymor raised $5,525,581 through 2 private placements and warrants exercised in 2005. For 2006, from warrants exercised and to be exercised, plus the $10,000,000 private placement in April 2006, the company will raise $13,146,550. In 2007, with warrants to be exercised, an additional $8,124,999 will be brought into the company. With this, Raymor has secured its financial future, thus allowing the company to aggressively pursue its business plan in each division.
  • In the 2006 edition of the FORTUNE 500 magazine, Raymor Industries was named as one of the leading public nanotech company in the world. The California-based International Association of Nanotechnology (IANano) and FORTUNE Magazine published the NANOTECH 100, a list of the 100 leading publicly-traded companies from around the world. Raymor has been selected to this list which also features large multinational corporations, such as BASF, Dupont and Intel.
  • In 2005, Raymor attended numerous, primarily US-based nanotechnology and advanced materials conferences and trade shows to increase the company's value and recognition among potential clients and investors. Raymor will continue and expand this effort in 2006.
  • AP&C Advanced Powders and Coatings Inc., a wholly-owned subsidiary of Raymor Industries was launched in 2005 to commercialize the advanced materials and nanomaterials technologies acquired in late 2004. The subsidiary announced 16 new clients, including the following: Thermal Spray Coatings - Turbomeca, Cooper Cameron Valves, Geographe Energy, DK Machine, Siemens PG, Valvtechnologies; Metallic Powders - Stryker, Boeing, Metaor, EOS, Ktech, Thortex, Wright Medical, Pratt & Whitney Rocketdyne, Canadian Department of National Defence; and Net-Shape Forming - Volvo Aero.
  • AP&C began numerous qualifications in 2005 with aerospace, defense and biomedical companies to become approved suppliers for metal and ceramic thermal spray coatings services and metallic powders supply. In 2005, AP&C used 85% of its personnel for qualification and client development, and 15% for contract production (powders & coatings). The Company predicts that this ratio should inverse in the Company's second year of production - 2006. For specifically these two divisions, with the completion of many qualifications by the end of June 2006, powder and coating sales are projected to be four to six times greater over the following 12 months.

In a statement to shareholders, Stephane Robert, President and CEO of Raymor Industries stated the following:

"2005 was a year where Raymor laid the foundation for the company. First, Raymor will greatly benefit from the completion of numerous accreditations in powders and coatings which began in 2005, resulting in a continuous stream of considerable revenues beyond 2006. More importantly, given that single-walled carbon nanotubes will become a technology platform for a multitude of applications, Raymor is preparing to capture a major share of the nanotubes world market for aerospace, defense and high tech. With the installation of our first high capacity C-SWNT production line, allowing Raymor to sign long-term agreements with our clients, Raymor will become the leading nanotechnology company in the world, and highly profitable."

The complete 2005 annual audited financial statements, along with the MD&A are available at www.raymor.com/.

About Raymor Industries:
Raymor Industries (TSX VENTURE:RAR - News) has as its mission to become a leading developer of high technology for the production of single-walled carbon nanotubes, nanomaterials and other advanced materials for high value-added applications. In November 2004, Raymor Industries created a wholly-owned, industrial subsidiary, AP&C Advanced Powders and Coatings, specializing in nanotechnology and advanced materials, and comprising four operational divisions: (1) nanotechnology products, including nano-powders, nano-coatings, and single-walled carbon nanotubes (C-SWNT) for "the applications of tomorrow"; (2) thermal spray coatings, which largely targets military, aeronautical, aerospace, specialized industrial, and mining applications; (3) spherical metallic powders, primarily used for biomedical and aerospace applications; and (4) net-shape forming, a component manufacturing technique used for ballistic protection and other aerospace and military applications. Raymor holds the exclusive rights to more than 20 patents throughout the world, with other patents pending.

For more information, please click here.

ON BEHALF OF THE BOARD OF DIRECTORS

Stephane Robert, President.

FOR MORE INFORMATION ON THE FORTUNE 500 MAGAZINE'S NANOTECH 100, PLEASE VISIT:

www.raymor.com/en/pages/inthenews.htm

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

(VERSION FRANÇAISE DISPONIBLE SUR LE SITE WEB DE RAYMOR DEMAIN)

Contact:
Investor Relations
Raymor Industries
(514) 932-3485
(514) 932-3644 (FAX)
investisseur@raymor.com

Media Relations:
Raymor Industries
media@raymor.com

Copyright © Raymor Industries

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